Concurrent Investment Advisors LLC Trims Stake in Mondelez International, Inc. (NASDAQ:MDLZ)

Concurrent Investment Advisors LLC reduced its position in Mondelez International, Inc. (NASDAQ:MDLZ) by 11.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 26,413 shares of the company’s stock after selling 3,316 shares during the period. Concurrent Investment Advisors LLC’s holdings in Mondelez International were worth $1,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC increased its position in Mondelez International by 9.8% in the 3rd quarter. Private Advisor Group LLC now owns 62,687 shares of the company’s stock valued at $4,618,000 after acquiring an additional 5,585 shares during the period. McAdam LLC acquired a new position in Mondelez International in the 3rd quarter valued at about $238,000. International Assets Investment Management LLC increased its position in Mondelez International by 8,591.9% in the 3rd quarter. International Assets Investment Management LLC now owns 806,085 shares of the company’s stock valued at $59,384,000 after acquiring an additional 796,811 shares during the period. Dakota Wealth Management increased its position in Mondelez International by 1.2% in the 3rd quarter. Dakota Wealth Management now owns 50,227 shares of the company’s stock valued at $3,710,000 after acquiring an additional 615 shares during the period. Finally, Ballentine Partners LLC increased its position in Mondelez International by 15.9% in the 3rd quarter. Ballentine Partners LLC now owns 18,684 shares of the company’s stock valued at $1,376,000 after acquiring an additional 2,562 shares during the period. 78.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDLZ. Deutsche Bank Aktiengesellschaft dropped their price target on Mondelez International from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their target price on Mondelez International from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Piper Sandler cut Mondelez International from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $63.00 in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on Mondelez International from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Mizuho boosted their target price on Mondelez International from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.74.

Mondelez International Price Performance

Shares of NASDAQ:MDLZ opened at $64.70 on Friday. The business’s 50 day simple moving average is $58.98 and its 200-day simple moving average is $65.89. The firm has a market capitalization of $83.69 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 4.34 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.48. Mondelez International, Inc. has a 12 month low of $53.95 and a 12 month high of $76.06.

Mondelez International (NASDAQ:MDLZ) last posted its earnings results on Tuesday, February 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mondelez International had a net margin of 12.68% and a return on equity of 16.75%. As a group, equities analysts forecast that Mondelez International, Inc. will post 2.9 earnings per share for the current fiscal year.

Mondelez International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, March 31st. Mondelez International’s dividend payout ratio (DPR) is presently 54.97%.

Mondelez International announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

About Mondelez International

Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.